Did you lose money on XAUUSD today? Here's why:
A lot of people made a lot of money shorting XAUUSD today while a lot of buy-long traders got closed out.
It's absolutely essential to understand that although XAUUSD is bullish long-term, this is not a buy and hold market.
You have to be nimble and go in and out of the market based on what it's telling you and be able to take profits often.
On yesterday's analysis we talked about the 1865-1875 level and if it were to become support, then Gold would then target the next resistance area at 1890. Earlier today the 1865-75 level completely shattered which was followed by a major sell-off, squeezing out net-long traders who got overly excited over the strong bullish signal we seen on Monday.
The best way to trade XAUUSD is to be nimble in the market, take profits often, and be ready to trade both ways.
There's massive opportunity for astronomical gains when trading XAUUSD, so it's important now more than ever that you get an edge in the market to be able to take full advantage of all the profits you can make on XAUUSD in 2020 and even more in 2021. Follow me for consistent XAUUSDadvice and a trading strategy with edge that's based on charts, fundamentals, and market cycle analysis.
A lot of people made a lot of money shorting XAUUSD today while a lot of buy-long traders got closed out.
It's absolutely essential to understand that although XAUUSD is bullish long-term, this is not a buy and hold market.
You have to be nimble and go in and out of the market based on what it's telling you and be able to take profits often.
On yesterday's analysis we talked about the 1865-1875 level and if it were to become support, then Gold would then target the next resistance area at 1890. Earlier today the 1865-75 level completely shattered which was followed by a major sell-off, squeezing out net-long traders who got overly excited over the strong bullish signal we seen on Monday.
The best way to trade XAUUSD is to be nimble in the market, take profits often, and be ready to trade both ways.
There's massive opportunity for astronomical gains when trading XAUUSD, so it's important now more than ever that you get an edge in the market to be able to take full advantage of all the profits you can make on XAUUSD in 2020 and even more in 2021. Follow me for consistent XAUUSDadvice and a trading strategy with edge that's based on charts, fundamentals, and market cycle analysis.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.